Although it is possible resistance is broken and eth shoots above 1380, perhaps even reaching 1400 and beyond once more, i believe we are still on the verge of a very large crash. Eth has rejected the 1333-1355 level many times in the past few days and each time has quickly crashed back into the 1280-1300 range even reaching as low as 1250. The strong support found between 1250-1300 coincides with the highs from a few months ago where eth was consolidating before its push to $2000+ . I believe this is the main reason support has not been broken yet however if it is to breakdown below that area, many long positions still open from that time will have their stop losses hit or will be liquidated, leading to a very violent drop. Everyone becoming bullish the past few days buying in now will provide the liquidity needed to push downward and break support of 1250-1280. Next strong support would be around $1000. So to structure a lower risk short, begin scaling in between 1335-1350, stop loss at 1360 or just above. First take profit will be at 1280 at which point claim 10% profit and put stop loss at entry price or just above. Next tp, 1250(20%%) followed by 1180 at which point you can either close the position and short the next small bounce, or alternatively take another 30-50% from the position, movr stop loss into profit and just wait to see if the market runs much lower. You could also use the left over amount as an opportunity to make scaling in easier as if you are using high leverage (only if you know what you are doing), if you scale in at the lower prices with that position still open, it will make your liquidation price much higher than it otherwise would have been if you reopened a new trade and allow more room for waiting while also using less capital. NOTE: I WOULD ONLY RECOMMEND THAT IF THERE ARE MANY SIGNS ON THE SHORT TERM TIME FRAMES THAT THINGS WILL CONTINUE LOWER. DO YOUR OWN DUE DILIGENCE, NOT FINANCIAL ADVICE.
